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Apr 16, 2013
04/13
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it's an indication of a stronger economy. it's an indication of corporations, you know, managing their expense properly. so it does validate my long-term view, but if somebody told me we were going to have 5% correction, i would say, look at that as an opportunity to get into the market. >> i mean, you've got, you know, nearly $4 trillion in assets more than the federal reserve. what can you tell us in terms of what clients are doing right now? are you continuing to see the buy on the dip mentality? do they take advantage of the pullback every time we see this market go lower? >> well, i think what we've seen from the beginning of the year, clients are putting cash to work. we are seeing, we had $34 billion of inflows, which was a record quarter for us, in equities, and most of that money came from cash, so we did not see a rotation from bonds to equities, but we saw a persistent demand for equities. in fact, even yesterday we had another institutional client come for another $1.5 billion in equities. now, i don't think it wa
it's an indication of a stronger economy. it's an indication of corporations, you know, managing their expense properly. so it does validate my long-term view, but if somebody told me we were going to have 5% correction, i would say, look at that as an opportunity to get into the market. >> i mean, you've got, you know, nearly $4 trillion in assets more than the federal reserve. what can you tell us in terms of what clients are doing right now? are you continuing to see the buy on the dip...
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Apr 17, 2013
04/13
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that's been the concern, did the economy slow a lot at the end of the quarter. and we think there's some evidence it didn't. >> what do you say to people who say, look at gold, look at these commodities, there is a fear of deflation and they think it's quite possible based on what's happening. >> i would very clearly differentiate gold from commodities. we think the fact that gold's come down is evidence that people think that quantitative easing is actually going to start to be pared back. the commodity trade is a little bit more disconcerting, because it is a better reflection on the growth prospects. i think the odds of deflation happening are very flow. the fed will keep printing more reserves if they need to. >> you're a global guy, who do you like best, the u.s., japan? any of these countries that are so aggressive with their monetary policies. >> and that's who's done the best and who we would continue to favor, the structurally sound economies, that's the united states, that's the emerging world, at the expense of europe and japan. >> we're the most stru
that's been the concern, did the economy slow a lot at the end of the quarter. and we think there's some evidence it didn't. >> what do you say to people who say, look at gold, look at these commodities, there is a fear of deflation and they think it's quite possible based on what's happening. >> i would very clearly differentiate gold from commodities. we think the fact that gold's come down is evidence that people think that quantitative easing is actually going to start to be...
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Apr 22, 2013
04/13
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i think as those auto numbers deteriorate, it's just going to exaggerate all the other weaker economies. and when you get the imf admitting that austerity isn't the way, and i don't disagree. if you didn't do reforms and you didn't do pro growth, all three ingredients needed to make a growth economic cake, i shudder to think what happens next. many suspect moody's may downgrade spain. >> with all of that said, stephen, how do you want to allocate capital right here? >> i think you need to look into equities. it's very interesting. look at the 1,000 and 2,000, large and small cap space, but also defensive versus dynamic, the rally we've seen has been very strong. it's had this very defensive tam boar tambor. it's like this sub tub city -- city constitution effect. global economics, look at the u.s. first. name by name basis. emerging markets. i would think global bonds. longer term investors, commodities from a valuations perspective look attractive. >> commodities? gold? >> not necessarily gold. >> oil? >> dr. copper. the valuations are beginning to pull in a little bit if you've got th
i think as those auto numbers deteriorate, it's just going to exaggerate all the other weaker economies. and when you get the imf admitting that austerity isn't the way, and i don't disagree. if you didn't do reforms and you didn't do pro growth, all three ingredients needed to make a growth economic cake, i shudder to think what happens next. many suspect moody's may downgrade spain. >> with all of that said, stephen, how do you want to allocate capital right here? >> i think you...
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Apr 18, 2013
04/13
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they want more from the fed, because the economy is weakening, or they want the economy to rebound and nothing's happening and we jump around all over the place. >> warren, what do you think? you've been constructive on this market all through the first quarter. you felt like there was more to go here. but do you feel like the psychology is changing with the volatility that we've seen this week? >> i'll tell you, this week has been a little bit troubling, and i have been pretty bullish up until this point. when you tend to see days like this, where the day after day, up and down bid on the dow, 100-plus point move on any given day, that's a sign that this market is truly struggling. >> are you rethinking your bullish position, at least for the short-term? >> a little bit. i think the thing that's probably sways me the most is the economic data we've been seeing out of the united states in the last week to ten days in particular, maybe the last couple of weeks has been a little bit weaker than the trend going into that. and that's a little troubling to me. >> all that nervousness in the
they want more from the fed, because the economy is weakening, or they want the economy to rebound and nothing's happening and we jump around all over the place. >> warren, what do you think? you've been constructive on this market all through the first quarter. you felt like there was more to go here. but do you feel like the psychology is changing with the volatility that we've seen this week? >> i'll tell you, this week has been a little bit troubling, and i have been pretty...
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Apr 24, 2013
04/13
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if you're expecting no recession, a broad economy that is improving slowly but surely, a global economy that you're expecting to see real growth pick up, i've got here, you're expecting global growth from 3% in 2012 to 3.2% in 2013, and then accelerate to 4.1% in 2014. if that's the case, when would the fed start pulling it in? >> well, the thing to keep in mind, maria, is that there's enormous disparity in that forecast. so, for example, we do believe that the chinese economy will see some reacceleration during this period of time. europe will be delayed somewhat. so much depends upon what's going on in various economies and what their central banks are doing as well. let's keep in mind that for a good period of time, the federal reserve has acted as the effective central bank of much of the global economy, in part because the other central banks found themselves without the appropriate tools. but now that the bank of japan is stepping in, now that there are some signs that the ecb may be taking more stimulative action, that takes some pressure off the fed. but by and large, we think t
if you're expecting no recession, a broad economy that is improving slowly but surely, a global economy that you're expecting to see real growth pick up, i've got here, you're expecting global growth from 3% in 2012 to 3.2% in 2013, and then accelerate to 4.1% in 2014. if that's the case, when would the fed start pulling it in? >> well, the thing to keep in mind, maria, is that there's enormous disparity in that forecast. so, for example, we do believe that the chinese economy will see...
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Apr 23, 2013
04/13
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>> and the market does well when you're in a low economy. when real gdp is growing at 6% or higher, the market actually declines 4% per annum. however, when we're negative, minus 2%, we grow at about 30% per annum in the market. so right where we are right now, you grow at about -- you chug along at about 9% per annum or 2%. so this is a sweet spot for the economy, and the fed keeps defending, every time we slow down, they come in, qe2, qe3, the economic indicators were starting to bowl over and they're playing defense to prevent against a double-dip recession. >> and the economic numbers are not that great right now, so how do you justify investing in the market knowing, you say market goes up in a slow economy, but what if they're exceeding earnings growth expectations? >> also, when earnings are slower, the market does better. when they grow really fast on an overall basis, that's another time when the market discounts and turns down. so we're in a sweet spot right now for the market. >> one more question to matt cheslock before we let yo
>> and the market does well when you're in a low economy. when real gdp is growing at 6% or higher, the market actually declines 4% per annum. however, when we're negative, minus 2%, we grow at about 30% per annum in the market. so right where we are right now, you grow at about -- you chug along at about 9% per annum or 2%. so this is a sweet spot for the economy, and the fed keeps defending, every time we slow down, they come in, qe2, qe3, the economic indicators were starting to bowl...
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Apr 23, 2013
04/13
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FBC
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it's a fox business exclusive and a good read on the economy. that's next. as the an anticipation for apple earnings reports mount, we'll look at the best selling mobile phones, not just now, but of all time. phones that you may be surprised to see that app iphone is not in the top three. stay tuned. ♪ ♪ @ why are 8 million people why are 8 million people sleeping better tonight? they went to a sleep number store. the only place in the world you'll find the sleep number bed. a bed with dual air technology that allows you to adjust to the support your body needs. each of your bodies. the only place you'll find our bed-clinically proven to help each of you slee more soundly. and the only place you'll find sleep professionals that will help you find a number that will change your life. your sleep number setting. you won't find any of these innovations in an ordinary mattress store. you'll only find sleep number at one of our over 400 stores nationwide. and now you can save $400 on the only memory foam bed with sleep number technology that adjusts to ea
it's a fox business exclusive and a good read on the economy. that's next. as the an anticipation for apple earnings reports mount, we'll look at the best selling mobile phones, not just now, but of all time. phones that you may be surprised to see that app iphone is not in the top three. stay tuned. ♪ ♪ @ why are 8 million people why are 8 million people sleeping better tonight? they went to a sleep number store. the only place in the world you'll find the sleep number bed. a bed with...
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Apr 17, 2013
04/13
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CNBC
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this economy is getting better. i know the jobs number was horrendous, the gdp numbers are not that great. but realistically, you have central banks around the globe that are not going to let us go into an economic catastrophe. they will continue to pump money into the market. >> if you're willing to step into this market even more than you already have, how much of a decline are you willing to absorb in the meantime? >> 5%. this market would drop another 5%. and granted -- >> what if it does more than that? >> if it does, it does. and we'll re-evaluate. you will see an accelerated sell-off, though. this will happen very quickly. but realistically, though, if you look at the next two-thirds of this year, we're probably going to end up -- >> i agree, it's not alarming. we are back to where we were, about a week and a half ago in the stock market. we're about 3% below our highs. still, it is a little bit alarming that the stated aim of the federal reserve, to create some asset inflation isn't really working, at least
this economy is getting better. i know the jobs number was horrendous, the gdp numbers are not that great. but realistically, you have central banks around the globe that are not going to let us go into an economic catastrophe. they will continue to pump money into the market. >> if you're willing to step into this market even more than you already have, how much of a decline are you willing to absorb in the meantime? >> 5%. this market would drop another 5%. and granted -- >>...
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88
Apr 16, 2013
04/13
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FBC
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eye 88
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if you lack at fracking, most people would feel their economy is much stronger than the rest of america, people are willing to pay a premium. when you look at cullen frost, it's much like northern and goldman sachs that people want to go to. and i like conservative names with strong dividend growth with strong regional economic situations that never took t.a.r.p.. conversely, you look at the money-centered banks that all of them took t.a.r.p., all have risk-oriented assets with europe, i don't believe anybody can ascertain or truly understand. i think there's more risk with these names. i like companies like u.s. bank, very strong management, very conservative in their lending power. and i think they know their customers better. liz: and that one, sorry to interrupt, has a 2.3% dividend, it's up about 5% over the past year, pe 9. >> right. liz: i'm just wondering why i wouldn't go with, say, a jpmorgan or a goldman sachs when, you know, some of these smaller names have exposure to, perhaps, downdrafts, and they might get blown around a little more dramatically if there are issues. >> ri
if you lack at fracking, most people would feel their economy is much stronger than the rest of america, people are willing to pay a premium. when you look at cullen frost, it's much like northern and goldman sachs that people want to go to. and i like conservative names with strong dividend growth with strong regional economic situations that never took t.a.r.p.. conversely, you look at the money-centered banks that all of them took t.a.r.p., all have risk-oriented assets with europe, i don't...
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Apr 17, 2013
04/13
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as a global economy but a big energy report to heating oil prices of big loser reporting the lighter than expected demand for the distillates and that continues for out of five trading-- hitting the four month low crude prices falling as the u.s. output debts with the 20 year high. then that shows the commodity winners on the session and agriculture is very strong. a lot of this is seasonal demand the barbeque season begins also natural-gas is higher by about half a percent. cheryl: more breaking news to fox business that jones has downgraded the credit rating from the a-plus down to the a. the asian markets are closed but this could be a big meaningful to the down side for those german stocks. that begin jones has just downgraded germany. of course, bear the financial leaker -- peter with ngela marco and her come padres have been dictating to a the and that is not good news in we will be watching that. >> i view of a big story. >> eagan jones is not accrediting agencies. >> but it is germany. that is a big hit. who else is holding up europe? jones. if i am trading german stocks
as a global economy but a big energy report to heating oil prices of big loser reporting the lighter than expected demand for the distillates and that continues for out of five trading-- hitting the four month low crude prices falling as the u.s. output debts with the 20 year high. then that shows the commodity winners on the session and agriculture is very strong. a lot of this is seasonal demand the barbeque season begins also natural-gas is higher by about half a percent. cheryl: more...
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Apr 19, 2013
04/13
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liz: that has a lot of @%pital expenditure and you are sensitive and vulnerable to a recovering economy that may or may not stumble. are you prepared for some stumbling blocks along the way? it has been a tentative recovery. >> to give background i started in our company as a teenager i have seen a lot of economic cycles. this one we saw a gradual improvement that we benefit from such a different experience aad then we have destination markets and regional markets regional we will see them in florida and california. >> the stock jumped right out of the gate it looks like a smart idea the blackstone was your biggest donor and they could have sold you easily to another private outfit. whitey think the ipo route was taken? >> i think blackstone found is what we have known. they have invested in the parks and they see the value the business has but what we can still do. they are excited to be a part of this company. liz: butte rolled over the fact is started as a teenager you really are on the screen and you started as a parking lot attendant back in the '80s. what does this say about this
liz: that has a lot of @%pital expenditure and you are sensitive and vulnerable to a recovering economy that may or may not stumble. are you prepared for some stumbling blocks along the way? it has been a tentative recovery. >> to give background i started in our company as a teenager i have seen a lot of economic cycles. this one we saw a gradual improvement that we benefit from such a different experience aad then we have destination markets and regional markets regional we will see...
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Apr 22, 2013
04/13
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is it the slowdown in the global economy? >> yeah. that's why you want to watch these multi industry companies. it's nerdy to talk about ingersoll rand. but they make the stuff out there behind the walls. they make all the things that keep these buildings going and systems operating. when they talk about things slowing, we don't know if they're going to, but we've heard about slowdowns globally. that's where you're going to see it first. >> ingersoll rand is also going to sidestep on the housing recovery. that could be a positive. >> a little bit. you're going to tear them talking about where things are overseas. what's good about these companies, a lot of earnings are overseas. >> global story then the consumer. coach out tomorrow. >> north america's the key. >> coach had an issue last quarter. >> the problem is north america. i think their sales growth was something on the order of 1% for them. that's going to be a problem. they also got a lot of -- of course, they're in the accessories business. there's a lot of competition there.
is it the slowdown in the global economy? >> yeah. that's why you want to watch these multi industry companies. it's nerdy to talk about ingersoll rand. but they make the stuff out there behind the walls. they make all the things that keep these buildings going and systems operating. when they talk about things slowing, we don't know if they're going to, but we've heard about slowdowns globally. that's where you're going to see it first. >> ingersoll rand is also going to sidestep...
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Apr 18, 2013
04/13
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i mean, copper is the gauge of the global economy. we saw russia come out last night. they warn that if the physical commodities continued a sell-off they may fall and slick themselves into a recession. if we start to see russia fall into recession, parts of europe also may fall. the u.s. to be right behind it, and this could be as serious meltdown that could occur. liz: well, a meltdown in gold. right now we're up about $4. it is not a big deal. still, well off of the eyes of the past year or so. let me just get to crude oil right now. it is rebounding a bit by about a dollar and 54. overall, the entire energy complex looks stronger. what is that duty today? >> i think we have overdone it. we oversold the market. we got into a level where commercial buyers came into start hedging positions. i'm with that. to me right now eyeleted 84 and a half to 85. from here you buy this. and we head back up higher. liz: what would drive the move fire? >> well, a couple of things. coming up with a lot of bad news right now. and there was a huge sell-off in commodities. it's it's a s
i mean, copper is the gauge of the global economy. we saw russia come out last night. they warn that if the physical commodities continued a sell-off they may fall and slick themselves into a recession. if we start to see russia fall into recession, parts of europe also may fall. the u.s. to be right behind it, and this could be as serious meltdown that could occur. liz: well, a meltdown in gold. right now we're up about $4. it is not a big deal. still, well off of the eyes of the past year or...
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Apr 18, 2013
04/13
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the fed says, we absolutely need them to keep the economy going, and you need a stronger economy for your business. at the same time, your numbers show that with interest rates so low, it's really hard for you guys to make money in this environment. how do you feel about that? it's a double-edged sword, right? >> yeah, michelle, it is. so we actually make more money when rates are higher, so we'd like to see rates higher, particularly, a positive-sloping yield curve. you know, the fed has a strong view in consensus that rates need to stay low. i'm not generally in that camp. i think the early stages of qe were probably good. i think it's very debatable now whether it's doing any good or not. i personally think the economy trying to find its own natural structural, level of stabilization, and it's going to do that at its own pace, with or without qe. a lot of people disagree with that. but i think it's about confidence, not about how much qe we have. >> mr. king, appreciate your time, sir. thanks for joining us today. >> thank you very much. have a good day. >> great to have you on. >
the fed says, we absolutely need them to keep the economy going, and you need a stronger economy for your business. at the same time, your numbers show that with interest rates so low, it's really hard for you guys to make money in this environment. how do you feel about that? it's a double-edged sword, right? >> yeah, michelle, it is. so we actually make more money when rates are higher, so we'd like to see rates higher, particularly, a positive-sloping yield curve. you know, the fed has...
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Apr 16, 2013
04/13
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particularly with this anemic growth story for the economy. with the federal reserve still firmly in place providing stimulus and this market in a stage of fear, i would have to that buy on the dip mentality rules the day. we certainly saw an example of that once again today. have a great night, everybody, thank you so much for being with me. i will see you on friday in washington tomorrow with axel weber. "fast money" begins right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here's what "fast" is following tonight, yahoo and intel start their conference calls this hour. monitoring them for their quarterly results and trading it. fool's gold, the precious metal closing higher after falling 14% in the prior two sessions. is this a sign of a bottom? we get answers from the commodities king himself. and land grab, why the rising housing stocks may be deceiving
particularly with this anemic growth story for the economy. with the federal reserve still firmly in place providing stimulus and this market in a stage of fear, i would have to that buy on the dip mentality rules the day. we certainly saw an example of that once again today. have a great night, everybody, thank you so much for being with me. i will see you on friday in washington tomorrow with axel weber. "fast money" begins right now. >>> live from the nasdaq market site in...
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Apr 24, 2013
04/13
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dinner on the cutting edge of the sharing economy. it's the new economy. companies that are fast becoming household names. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. before the three- and four-star ratings... before local farmers and employees became secret ingredients... before rock star chefs were playing to packed houses every night... two restaurateurs sat down with our banker and transformed some chicago neighborhoods into culinary meccas. that's the power of connecting a vision into a recipe for success. that's bank of america. >> welcome back. the so-calls sharing economy. taking the country by storm. i shared a unique dinner with the men and women on the front line os f a technology movement
dinner on the cutting edge of the sharing economy. it's the new economy. companies that are fast becoming household names. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you...
69
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Apr 24, 2013
04/13
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. >> look at the durable-goods number, that is the big ticket item, health of the economy and a lot of people use metric about how things are going in this country. >> i certainly agree. durable-goods numbers if you look at home building home building shows signs of strength. it has been resilient and you are certain to see signs of staples turning down a little bit, food and beverage and tobacco looking resilience as they break new heights but you have to think of that regard. liz: we're talking about housing and the risks you can take and the chicago mercantile exchange and how they handle all that trading floor, the largest futures trading floor handles the situation with the august wheat. as i mentioned a moment ago boeing announced plans to get its 787 dreamliner back in the air, shares of boeing heading higher. let's get to nicole petallides on the floor of the stock exchange. people do not learn when a good company has a few bad headlines that may be the time to buy it. >> the pull back might have been the time to buy but we are watching bowling moving to a new annual high. look
. >> look at the durable-goods number, that is the big ticket item, health of the economy and a lot of people use metric about how things are going in this country. >> i certainly agree. durable-goods numbers if you look at home building home building shows signs of strength. it has been resilient and you are certain to see signs of staples turning down a little bit, food and beverage and tobacco looking resilience as they break new heights but you have to think of that regard. liz:...
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Apr 23, 2013
04/13
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eye 159
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i recognize, it's time to do unemployment and time for the economy. but would you expect the fed to start slowing down the stimulus this year? >> no. >> no? >> fed has said, unless unemployment is better than 6.5%, people have been speculating on the fed's pulling back since they started pulling forward. it seems to me the burden of proof must be on those who c contend that the fed is going to do less rather than more. and does it not appear that we have chiefed something like the kingdom of heaven. sovereign bond yields scraping all-time lows in spite of unprecedented central bank activity. why would they stop? it's perfect, yet improving. >> the perfect world. what about gold? i mean, what a -- you must have been just watching that screen, watching gold plummet a week ago. >> yes. >> and thinking, what is going on here. >> the last thing i said to you, the prior time, and you were gracias enough to have me on, gold stocks are really an interesting idea. >> totally lacked. >> but i'm still bullish. i think that gold is the alternative, is the way to
i recognize, it's time to do unemployment and time for the economy. but would you expect the fed to start slowing down the stimulus this year? >> no. >> no? >> fed has said, unless unemployment is better than 6.5%, people have been speculating on the fed's pulling back since they started pulling forward. it seems to me the burden of proof must be on those who c contend that the fed is going to do less rather than more. and does it not appear that we have chiefed something like...